The Algerian-Saudi Business Forum held in Algiers on Sunday witnessed the signing of five significant agreements and memoranda of understanding between Algerian and Saudi companies across multiple sectors, marking a new phase in bilateral economic cooperation.

Signed Agreements Include:

1. Tourism Sector:

   • MoU between Algeria's Seyaha wa Asfar (Travel & Tourism Company) and Saudi's Alamuna wal A'mal lil Siyaaha

2. Commercial Cooperation:

   • MoU between Algerian Gulf Business Company and Saudi's Magnum Trading Company

3. Industrial Partnership:

   • MoU between Algeria's Katiam and Saudi's Ghaith Holding Group

4. Technology Distribution:

   • Exclusive distributor agreement between Tonal Techno Bond and Gulf Panels Trading Company

5. Legal Services:

   • Professional cooperation agreement between Laoubi Law Firm and Rayan bin Mohammed Qurban & Partners Law Firm

Key Statements:

• H.E. Abdullah Al-Bassiri, Saudi Ambassador to Algeria:
  "These agreements will enhance economic ties between our nations, with bilateral trade reaching $1 billion and growing Saudi investments across multiple sectors in Algeria."

• Raed Al-Mazrou, Saudi Co-Chair of the Business Council:
  "Algeria's current investment climate is highly attractive. We aspire to become the top foreign investor in Algeria, with many Saudi firms eager to participate."

• Kamal Moula, Chairman of Algeria's Economic Renewal Council:
  "Our partnership has all components for mutual economic growth through effective investments and expertise exchange, creating jobs and enhancing both economies' resilience."

• Kamal Hamani, President of the Algerian Chamber of Commerce:
  *"This partnership opens Africa's 1.5 billion-consumer market for Saudi Arabia, with potential benefits under AfCFTA when conditions are met."*

Forum Details:

• Organized by the Algerian Chamber of Commerce & Industry

• Featured B2B meetings between 50+ Saudi and Algerian businesses

• Focus sectors: Food processing, agribusiness, steel, tourism, ICT

• Saudi delegation included representatives from major companies in agriculture, construction, and tourism